JV Between King Street Real Estate, Westdale and Cedar Capital Purchase Shelborne South Beach Hotel for $120 Million

King Street | February 4, 2020

NEW YORK & TORONTO & LONDON -- A joint venture between King Street Real Estate GP, L.L.C (“King Street Real Estate”), Westdale Properties (“Westdale”) and Cedar Capital Partners (“Cedar Capital”) today announced the acquisition of the Shelborne South Beach Hotel in Miami Beach, Florida for $120 million. The landmark 275-room hotel is located in the heart of Miami Beach’s famous art deco district. Opened in 1941, the Shelborne was originally designed by Igor Polevitzky and later updated and expanded by Morris Lapidus, the architect responsible for some of Miami’s most glamorous hotels. David Walch, Partner of King...